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UAE and Jordan boost relations with $2 billion investment MoU

The MoU covers investments in infrastructure and development projects.

UAE and Jordan boost relations with $2 billion investment MoU
[Source photo: Anvita Gupta/Fast Company Middle East]

The UAE and Jordan share a longstanding and robust relationship underpinned by strong economic connections. The UAE ranks among Jordan’s leading non-oil trade partners, and both nations have made substantial investments in each other’s economies.

Both countries have experienced substantial growth in their reciprocal investments, amounting to an estimated $20 billion. These investments have been channeled into various sectors, encompassing infrastructure, energy, and tourism.

The most recent collaboration between these nations is a $2 billion investment agreement designed to strengthen cooperation across critical domains, notably infrastructure and development projects. This Memorandum of Understanding (MoU) reinforces their strategic partnership.

UAE Minister of Investment Mohammed Hassan Al-Suwaidi and Jordanian Minister of Planning and International Cooperation Zeina Toukan signed the MoU.

Additionally, the Abu Dhabi Developmental Holding Company and the Jordan Investment Fund have joined forces in a strategic partnership to establish a shared investment fund.

This MoU allows both nations to investigate avenues for expanding mutual investments, thereby enhancing their Gross Domestic Products (GDPs). The partnership’s focus will encompass various sectors, including renewable energy, industry, manufacturing, transportation, pharmaceuticals, and food manufacturing.

Al-Suwaidi said, “We are committed to enhancing cooperation with our partners to ensure collective growth and economic prosperity. This memorandum reflects our desire to boost cooperation and investment in Jordan and solidify the fraternal relationship between the UAE and Jordan.”

“The memorandum of understanding represents an opportunity to build on the deep historical ties between the two countries. It also underscores their shared commitment to enhancing economic prosperity for both nations,” Toukan said.

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